Natixis Lends Against Yosemite View Lodge & Cedar Lodge
Natixis Real Estate Capital LLC provided $85,000,000 of 10-year term fixed-rate CMBS financing to Yosemite Resorts to refinance Yosemite View Lodge and Cedar Lodge located in El Portal, CA just outside the Arch Rock Entrance to the world-renowned Yosemite National Park. The financing was arranged by Mark Owens and Alison Tan from the office of The Ackman-Ziff Real Estate Group in New York. Yosemite Resorts is the privately owned company of the Fischer family.
The 327-room Yosemite View Lodge is located directly on the Merced River with the majority of the guestrooms featuring balconies overlooking the active wildlife areas. Yosemite Lodge has three outdoor and one indoor pool and six whirlpools on the site. The 209-room Cedar Lodge is located minutes from the entrance of Yosemite National Park. Most rooms offer views of the surrounding valley and rock formation. The Cedar Lodge has two outdoor pools and one indoor pool. The Arch Rock entrance to Yosemite is the only all-weather route in and out of the park and is the second-most heavily used entrance to Yosemite. Also, at the entrance to both hotels is a Yosemite Area Regional Transportation System bus stop which is the public transit in the Yosemite region. Yosemite National Park is the third-most visited in the country. The Park hosted nearly 3.9 million visitors in 2014, a 5% increase over 2013.
Natixis Real Estate Capital LLC is a full-service, direct lender offering a wide range of financial solutions for commercial real estate for its clients throughout the United States. It specializes in CMBS originations and also provides floating-rate structures for opportunistic property acquisition and repositioning situations. It has the ability to underwrite the full capital stack, including first mortgage, mezzanine/b-note, and preferred equity. Natixis Real Estate Capital is a subsidiary of Natixis.